Seadrill (NYSE:SDRL) Issues Earnings Results, Misses Expectations By $0.68 EPS

Seadrill (NYSE:SDRL) announced its quarterly earnings data on Tuesday. The oil and gas company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.68), FiscalAI reports. The business had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $382.66 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%.

Seadrill Trading Down 5.6%

Shares of NYSE SDRL traded down $2.61 on Wednesday, reaching $43.71. 445,458 shares of the company traded hands, compared to its average volume of 777,809. The stock has a market capitalization of $2.73 billion, a PE ratio of 1,454.87 and a beta of 1.17. Seadrill has a fifty-two week low of $28.10 and a fifty-two week high of $55.47. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $47.80 and a 200 day moving average of $45.05.

Analyst Ratings Changes

Several equities analysts recently weighed in on SDRL shares. Citigroup reaffirmed a “neutral” rating on shares of Seadrill in a research note on Monday, September 7th. Zacks Research cut shares of Seadrill from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 14th. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price target on shares of Seadrill in a report on Wednesday, October 14th. Finally, Weiss Ratings upgraded shares of Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.40.

Seadrill Company Profile

Seadrill Limited (NYSE: SDRL) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs, which are used to explore for and develop hydrocarbon resources beneath the seabed.

Seadrill’s services include contract drilling, rig operations, well construction support and related offshore services. Its modern, high-specification fleet is designed to work in challenging deepwater and harsh-environment locations.